Jay Ltd. has let out a premises with effect from 1 st October, 2013 on monthly rent of ₹2,00,000. The lease is valid for 10 years and the tenant has made a deposit equivalent to 5 months rent. The tenant has undertaken t
CS Executive · Tax Laws and Practice · PYQS · June 2014
Jay Ltd. has let out a premises with effect from 1 st October, 2013 on monthly rent of ₹2,00,000. The lease is valid for 10 years and the tenant has made a deposit equivalent to 5 months rent. The tenant has undertaken to pay the municipal taxes of the premises amounting to ₹90,000. What will be the value of the property under Schedule III of the Wealth-tax Act, 1957 for the assessment year 2014-15?
Topics: Wealth Tax
Related Questions in this Topic
- Rules for valuation of assets under the Wealth-tax Act, 1957 are stated in
- Under the Wealth-tax Act, 1957, clubbing provisions relating to wealth-tax are contained in
- Yash owns a house built on land area of 420 sq. meters. The value of the house is ₹35,00,000. Under the Wealth-tax Act, ...
- According to Wealth-tax Rules, 1957, the notice of demand for recovery of wealth-tax shall be in
- Wealth-tax return is to be filed in